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Industry News

Bermuda plays special role in global economy: Michael Bloomberg tells executive business forum in New York

Industry News

Hamilton, Bermuda, May 18, 2017 - Business billionaire Michael Bloomberg told a gathering of senior US business leaders that Bermuda plays a special role in the global economy.

The three-term former...

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Business Development Agency's CEO Ross Webber's Viewpoint

Industry News

In their own words

I am expected to fly Bermuda’s reputational flag. As CEO of the country’s business development agency, it’s a given. As the Geico ad goes,...

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Bermuda’s captive insurance register maintains stability in 2016

Industry News

Bermuda Monetary Authority (the Authority) has confirmed that Bermuda had 776 active captive licences on its register as at 31 December 2016. 

The Authority’s definition of a captive...

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Remain Or Leave: Implications of a Potential Brexit

Industry News Fund Manager Updates

The United Kingdom faces a crucial referendum on its membership in the European Union later this month. While polls have tended to favour the Remain camp, some of the more recent polls have put Leave in the lead. While no one...

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Bermuda 'A plus' Ratings Affirmed On Return Of Real GDP Growth And Improving Fiscal Deficits; Outlook Stable

Industry News

Overview

  • We are affirming our 'A+' long-term sovereign credit and senior unsecured debt ratings on Bermuda.
  • We are also affirming our 'A-1' short-term rating on the...

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Appleby Fiduciary Business Rebrands as Estera

Northstar News Industry News

News Release - 21, April, 2016 - Appleby Fiduciary Business has launched its new brand and identity, Estera, following the successful management buyout from the Appleby Group in December 2015.

Drawing on the...

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Bermuda is Different

Industry News

Hamilton, Bermuda, April 5, 2016 — Some of the recent reporting on the “Panama Papers” perpetuates the myth that all offshore financial centres are the same.

The fact is:...

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Bermuda Monetary Authority (“BMA”) Press Release

Industry News

HAMILTON, BERMUDA – The Bermuda Monetary Authority (the “Authority”) is pleased with the publication of the European Commission’s (“EC”) Delegated Act which recognises Bermuda’s...

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Report Boosts Island's Bid to Meet EU Rules

Industry News

Bermuda has taken a step closer to complying with European Union equivalency rules. An updated report from the European Insurance and Occupational Pensions Authority (EIOPA) acknowledges substantial amendments to Bermuda...

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NAIC Working Group Recommends Bermuda as Qualified Jurisdiction

Industry News

A working group of the National Association of Insurance Commissioners (NAIC) has recommended the Bermuda Monetary Authority (BMA) for approval as a “qualified jurisdiction” under the NAIC’s reinsurance...

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NAIC - Qualified Jurisdictions Set to Expand

Industry News

WASHINGTON, D.C. — The National Association of Insurance Commissioners (NAIC) today announced that five international reinsurance supervisory authorities have been recommended by the NAIC’s...

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Bermuda's Insurance Market Continues to Achieve Significant Results

Industry News

Strong underwriting statistics recorded; 12 new registrations for Q1 2014

HAMILTON, BERMUDA – Statistics released by the Bermuda Monetary Authority (the Authority) today demonstrate the...

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Bermuda Insurance Update

Industry News

Surge in new insurers

Registrations of new Bermuda insurers surged by 72 percent for the year 2013, as 91 new insurance companies were formed in the Island, including 24 new...

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NAIC - Bermuda, Germany, Switzerland and United Kingdom Added to NAIC List of Qualified Jurisdictions

Industry News

WASHINGTON, D.C. — The National Association of Insurance Commissioners (NAIC) today approved four international supervisory authorities as Conditional Qualified Jurisdictions under the Process for...

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Trading Risk: SACs and SPIs - Equal Partners?

Industry News

Segregated accounts companies (SACs) and special purpose insurers (SPIs) have been a considerable boon to Bermuda’s insurance industry, but are they being used to their full potential?

SPIs or...

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Expert Guides Insurance and Reinsurance - Q&A

Industry News

Q&A with Brad Adderley – Partner at Appleby Global

New market entrants, the return of traditional market players, and changing regulations once again have the world’s insurance...

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